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News/Business. Business news and interviews; with Neil Cavuto. New.

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Syria 13, Neil 7, Hp 5, Nascar 5, Us 4, Google 4, Obama 4, Israel 4, Assad 3, Detroit 3, At&t 2, John 2, America 2, Terrance 2, The Team 1, Google Stans 1, Cnn 1, Mr. Mccain 1, John Mccain 1, Benjamin Netanyahu 1,
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  FOX Business    Cavuto    News/Business. Business news and  
   interviews; with Neil Cavuto. New.  

    August 29, 2013
    8:00 - 9:01pm EDT  

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♪ neil: tonight, fast food workers getted hosed, not by the bosses, but by unions' bosses. welcome, everybody. i'm neil cavuto, and this was the scene across the nation today, minimum wage workers at mcdonald's, wendy's, and burger king walked off the job to pound the pavement for higher wages, a lot higher, doubling the minimum wage, and they it's their right and right thing to do. i have to stop here because i'll go long tonight to tell all of you striking workers, because this is for you, it's not your right, and it is the wrong thing to do. trying to help you here. here's why. the only ones you are helping are the service union bosses
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riling you up. ask yourself why they are suddenly interested in you? your plight or your cash? the unions lose members fast, and they could sure use you and your cash. let's say you get 15 bucks, you won't, but say you do, what's their cut? don't fool yourself. after they get their way, they want their cut. what's it going to be? what are you left with? when you return to the fryer, what makes you think you are out of the frying pan and evil boss of yours, what makes you think his fortunes have not changed. you doubled the worker cost, and the union boss said you could afford it, but here's the truth, he can't. your boss owns a mcdonald's franchise, he's not thee mcdonald's franchise. his profit margins are thin. he has to think how to pay 15 buckssan hour to you and your coworkers.
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if that's a hit, there's fewer workers. say you survive that, you still work. does the union boss tell you there's a good possibility you will not work full-time? did he tell you about how the health care law put many fast food restaurant businesses making workers part-time? maybe you survive this because you're a fantastic worker. i'm sure you are. what about, though, customers you serve, the ones who just love those value meals? what if they are not a value. what if, along with your wage doubling, the price of the meals starts doubling? do you think those customers keep coming? i know you're union boss says they will because they know it's the right thing to do for you. turn it around, would you pay twice as much for a meal if it was the right thing to do for them? i wouldn't. all the machines popping up at the restaurants, one doing the job you used to do like pouring soda for customers, and some
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stores automatically take orders from customers. think you'll see more of them or fewer of you? nevermind. your union boss says you're exploited and has the numbers to prove it, minimum wage far from living wage. he left out 5% of the country's 10 million restaurant employees earn that minimum wage. the rest are over it. those who do a teenagers working part-time, though -- did he mention that 71% of all minimum wage employees in the restaurant industry are under the age of 25 and close to half of them are teenagers? he didn't? that's weird. anyway, i'm sure he told you that most of those workers, close to 60%, are students or kids saving for school, and they and others need the flexible hours. actually, any hours for any pay in a profession that's the only one hiring anywhere because don't you find it a little odd your union buddy keeping telling you how horrible your job is? how inferior and demeaning it
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is? are these the same jobs that provided countless millions of ameriians with valuable experience? the same hourly position for which nine out of ten salaried restaurant employees started today? when your union boss demeans that and them, what do you think he's saying about you? he's saying you're a loser. that's what he's saying. well, you're not, of course. he is. you're not. remember that. the next time you strike for something else, maybe, i don't know, this winter when your union boss has you slivering out there in the cold to make a point, and he's watching you from a warm, cozy office, just counting your dues. to john leifield who agrees, workers, not so much. layfield? >> no, they won't gain, neil, this is 5 union grab. in 1947, yiewn unions went fromo the work force to the single digits now. they are losing. they are a stink. they need to do something.
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your exactly right. very easy to go after the multibillion dollar corporations and say, look, they make billions. they need to share money. that's a complete separate issue because the mcdonalds themself said, we do not set wages at franchises. they have no control over what a mom and pop, truly what owns the franchises, thin margins, like you said, they can't afford to pay more. you're right. they are entry level jobs, never meant to be career jobs. neil: many who made it a full-time position, and that's fine, and i think if you're good at what you do, you'll advance and move up. the mainstream media's going to knock me for this or say you are callous, you're an anchor, and you have expensive suits, and by the way, it's not expensive. if you say that, well, i started out in fast food. i know what that is like. it's different now than it was back then? maybe it is. i'm telling you, and, john, you
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can relate to this, they have been lied to, used, and hosed and expectation that nirvana waits for them with the $15 wage, and by snapping your fingers, the great capitalist nation will bow and doo your bidding. it is not the way of the world or reality. >> no, it's not reality. a lot of of people use, well, look, if the wages were indexed say 1968, they always use 1968, you would have minimum wage at ten and a quarter. go forward 20 years to 1988, minimum wage is six dollars. go backwards behind 1968, minimum wage is $4. use numbers how you want. they are. the minimum wage is what it is adjusted to inflation to 1960, and what needs to happen is minimum wage has to be taken 90 of union and political influence and find a fair means of indexing it. wages are a basket of the above so you don't have an argument
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every single year. neil: it invariably comes down to expectation that the company, the fast food places, and, by the way, retail, macy's, and the like, also pushed to higher workers for more pay, they can snap their fingers and get the pay. is it the money sitting in a pot, but it has to come out of someplace else, and presumably higher ticket prices for goods. do you think that some of the unions have told workers that people, americans seeing the plight will pay double for duringer? double for fries? some, i think, would, but i suspect the vast majority would not. >> no. look how people vote around the world, they vote with pocketbooks, politicians, vote for change, vote with the pocket book. americans are not look at this and say, i'll pay twice what you should pay because they make more. the problem is, most jobs that have been added since the recession have been low-wage jobs. the prrblem we have in the economy is that real jobs, good
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jobs, above those low wage jobs, are not created. what you do to spur the economy, economic growth, is not force restaurants, who can't afford it, by the way, mom and pop franchises, to pay workers double. do something to create nor jobs in the economy, and the jobs are there for workers to move somewhere else. neil: john, thank you very much. again, i wanted to get to the next guest. we are not bemoaning, but mountain mainstream media, those striking, trying to make ends meet, you have been sort of rippedded down the river here thinking that this is something that is easily doable, obtainable, and causes little fuss for you or anyone else. the reality is quite the opposite. nowhere else do you get basic math on this, the economics of this, so they rip this any way they want. i'm going to give you reality. you're not getting elsewhere. to my next guest, because minimum wages, if you want them to double, well, be careful what
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you wish for. you might get it, or get hit. the wages go up, the numbers support them, but they don't add up. what happened? >> well, basically, they want to more than double what they are making right now from $7.25 to $15 an hour. they said it would be great if it happened, inflation has to skyrocket to make that a reality, and wage inflation currently is 1.8 forecast. these experts say, hey, get to $10 before we talk $15. neil: okay. i can see an argument, raising the minimum wage, tied to economic improvement, what have you, doubling at the 15 is another matter, but, you know, there's >> the economics, and if
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you look at mcdonalds, charge customers, and they didn't want to fork over more money, and that means they have to pass the profit margins over to consumers, and they are not willing to pay the cash p don't pay the bosses money, narrow that gap, and if you did, would that make up the difference for all workers? >> absolutely not? >> our social workers in st. louis, missouri, for example, the average worker works 24 hours a week now making under $11,000. i don't know, neil, anyone who can survive on $11,000 a year. that's 5 -- a minimum salary, but they cannot cut profits and give these workers more money, and they are not making tons of money themselves, and if it happens, they scale back even
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more like what we see under obama care, another layer to the issue here. >> those who already pay more than the wage now, the fear is what? >> the workers who are striking for more money, their jobs, their hours, they get cut. >> okay. neil: i have a property tester on the phone. terrance, i don't know if you heard arguments that might make you pause in the rush to see the minimum wage doubled, what do you think? >> i think the franchise say the cost of all funnel to the customers, it should be the parent customers working with the franchises to work on their prices and how is not to funnel
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cost to customers to give us a livable wage. neil: even if you do that, terrance, do you think there's enough switching on the top, you know, shifting things over, you know, as they pass along some of the savings to the franchises that that's going to be enough to pay for doubling minimum wage. >> caller: it's enough to pay workers better. neil: maybe better, i'll take a leap and say "maybe better," i don't know if it's better for companies longer term, but better is very different than 15 an hour, don't you think? >> caller: well, i tell you, $15 an hour is achievable, and we know that we need more money to survive dearly here. we can say drsh they can make all the arguments they run on thin margins, all of that, but i think it's all -- it's all bologna. they can pay us better, and -- neil: it's not. you might not buy the math says
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the margins are thin. they are. you offer an idea that maybe the mcdonald's and burger king's and wendys should change the franchise math so all of the sudden they give more money to franchises so they can share more with the employees, but the reality is, what the reality is with the boots and boots on the ground, they can want afford to do it. are you willing to see if you get 15 bucks, with fewer coworkers to make the adjustments? >> caller: i can't afford to buy the pizza where i work, so the more money we make, the better it helps the economy, we can put more money into the economy, and actually purchase food from the place we work. they'll make money if we make money, they'll make money, the whole economy will be uplifted, and i ask everybody, some of my neighbors and friends, would you pay 10 to 20 cents more to see the economy going better.
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neil: it's more than that. ten cents is nice, but if doubled, they might not; right? would you? >> caller: i would. neil: okay. you're a jeep rows soul. thank you very much. for those protesters listening to this, i do not mean to be callous. i do not mean to be elitist, but i mean to share basic math with you and the reality of the economy and the reality of the job market and the reality where three out of four jobs generated are part-time. this will not alter that math. this will make it worse.
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>> there's a woman who will be raped in a field in america somewhere today. she has no right in this country. we have to end that. there are children who are going to cry, and there are marriages that are going to be destroyed because someone is going to be deported today, and there's going to be children left orphaned in this country. neil: okay. if those arguments don't work, go for crazy. democratic illinois congressman with a town hall push to get the immigration law done, but that seems to prove here, and i like the congressman, but, boy, looks undone there. anyway, maybe because logic
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ain't selling it, so go for bonkers. is bongers thinking any good coming from the immigration law that's flawedded? >> don't pass a law versus rather based on threats. don't pass a law based on threats like that. the logic here is that he opened himself up to fear mongering saying, all right, these people who come here illegally and put themselves in harm's way, they wouldn't be in harm's way if they came here legally. being here illegally puts themselves in harm's way. neil: now women are going to be raped coming here or forcibly thrown back? beyond ridiculous. >> unfortunately, it's unhinged, and we've seen this rhetoric in the past, the overheated, unhinged rhetoric. remember pelosi in 2011 we have to save the world from the g.o.p. budget to save the life on the planet as we know it. another says the g.o.p.'s budget
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was a sugar coated satan sandwich. neil: really? >> one democrat said that. i'm just saying this is not gridlock, but a serious issue which ity for illegals, people who come here illegally and serious minded people on both sides of the political aisle have looked at this and said there should be a legal way to get here. is there an amnesty way? is that the way? some say no. keep it as a legal way in, but amnesty is not the way to go. neil: here's where i disagree on fear not selling something. i think barry goldwater was in trouble with johnson anyway in 1964, but that famous ad, the little girl -- >> with the flower? neil: exactly, saying her future was in peril because goldwater would blow the world up. that resinated with folks who says he sounds like a right wing crazy always finger at the
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trigger nut job, and it was hipper bollic. >> may resinate, but, you know, thing is, when you watch the tape again, you notice the congressman, a baby cried in the background, and he said, "children start crying," he's clearly exploiting the moment, and that is not the way to get legislative -- legislation through. neil: speaking to who? who was there? they didn't argue with it. >> the backdrop to this is both harry reid and the president said, you know, the private sector is doing fine. the job growth is not fine. we have an anemic job growth. again and again, i have to say, listen, he opened himself up, why? to attacks and rifle criticism, and people who rightfully say, all right, if people are putting themselves in harm's way because they are illegal immigrants, they shouldn't come here illegally, but protect
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themselveses; right? that's is how he opened himself up to fair criticism. neil: fighting nuttery with nuttery, come on. this is the human race, put your hand's up and celery stocks down. it is over, finished. ♪ but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. aaah! aaaaah!
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♪ neil: notice that -- you know, that the nanny state is like whack-a-mole. you smack a stupid idea down, but another pounces right back up. san jose, california's city coup sell just rejecting a plan to
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ban sugary sodas and full fat milk at public events. new jersey is looking to fine people for texting folks who are driving, not the folks driving, but texting as they are driving, trying to figure out how they would prove that texter knew the textee was driving? just another example of an out of control nanny state. rick disagrees and loves the nanny state. i think you're reigning it in with constant slapdowns of the sugary soda thing in new york city, the big gulp thing in new york, and san jose, i think the food police are on defense. >> i think that's good because people want to eat what they want to. i mean, if i want to drink a scotch, i should be able to do that. neil: you do so on this show. >> absolutely, that's why it's fun. sugary drinks in milk and water and, i mean, you know, what's next? that's not right. look, government is supposed to
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do -- fill potholes, pick up the trash. that's the job. as far as texting thing, that's just way out there. how in the world can they place that? a police state rather than a republic, well then, that's their mind set, and that's wrong. neil: no so longer does the city, counsel, or judge slap it down, they have a creative idea. >> you have to be careful here. the whole food thing, over. it's not an issue anymore. neil: what do you mean "over"? >> it's over. court ruled you can't do it. neil: how do you feel about it? >> i think it was a silly law considering the fact it's movie theaters. what are we, in a movie theater once a month? it was symbolic, silly, history. not going to happen in san jose or anywhere else. the texting thing is different. you have to read the court's opinion. they didn't say that anybody who is texting somebody while driving could be held spobl, and, in fact, they let the girl off the hook who was sued. neil: if the person knew the
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person was driving, but, again, to -- >> how do they know? neil: you have to check the text, and nsa on the prowl. >> no, no, no, look, it makes sense in terms of tort law. were they to allow this if you couldn't know -- neil: you're a lawyer; right? >> i am. causation is a very real concept in tort law. listen, from a practical point of view -- neil: how about big government creeps? now, not only to the driver, but anyone communicating with that driver. >> if they know the driver's driving? neil: how do you think they know? how do you think they will know? >> two ways. one way is -- neil: give us your phone. >> thanks a lot, i don't want to hand over the phone. >> let me answer. one way is ed. we have that in situations. there's evidence. if there's no evidence, then you're not going to be spobl. evidence, and that comes out in the court. if they put you on the stand and you were the one texting, and they asked you the questions,
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saying, did you know that person was driving at the time you were texting to them? if you say, yes, then we know. the other way is a possibility. they may look at your phone. >> oh, my. neil: that's the first way. >> exactly. >> that's the first way. >> it's done all the time. it's evidence. >> come on. it's another invasion to privacy. >> you have kids, neil, do you not favor anything to tact down -- ask me in five years. neil: hopefully you'll be a long former guest by then. >> that could be tomorrow. >> it's invasion of privacy, another excuse to grab your phone and information, and, you know, do their real jobs they have to do. neil: thank you, from big gulp to big leap. >> nice segue. neil: i know. thank you very much. you ever wonder what syria does if we attack? what if i told you we already know because they are already doing it? ♪ these days, a small busines can save by sharing.
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neil: what is this syria electronic army? heard about this? all we know for sure is, well, they supported assad, and they are taking credit for a number of cyber attacks this week including ones on twitter and the "new york times'" website. step back and think about the other companies hit. we had amazon, cnn, washington post, and nasdaq.
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who knows the source, but you cannot deny the scary pattern. what if this is the next battlefield, and judging from the file walls that seem to be easily penetrated, one of which proves even more pen traitble. to former homeland security secretary, our nation's first one, as a matter of fact, tom ridge. good to have you, sir. you know, -- >> thank you, neil. neil: am i making much adieu about this? i see a lot of this stuff happening. i don't know if it's traced to the syria group or even a lot of it is, but it worries me that it keeps happening. >> well, no, you're not making light of it, and, i mean, the fashion of the matter is that in the arsenal of weapons of terrorist organizations and perhaps ultimately more importantly nation states, they now have digital weapons, and it may be the syria electronic army. it may be the iranian
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revolutionary army, and they prepped ease stone -- estonia and georgia back in 2008. it's bigger than the electronic army, but a new state of warfare that, frankly, we'll deal with, the world is going to deal with it forevermore. neil: what do you think of the alleged syria electronic army and whether it has ties to assad, or, for that matter, some other group just for support for assad? >> it could be a state funded enterprise, could be hackers for hire, all over the world, but it speaks to the emerging capability and a country like syria, and respond to a military attack in a nonmilitary way. what we see in the months and years ahead begin dynamic nature of the world, we'll see
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countries escalate capability both defensive and offensive capabilities in order to respond to geopolitical events, military intervention, and, again, world war iii, digital war's begun. let's face it. we, when the white house leaked our abilities through a cyber operation to disrupt the iranian nuclear program, i'm not saying we had any moral authority to say to the rest of the world not to use the internet to respond, but whatever moral authority we might have had, we lost. it's going to be a fact of life that u.s. cyber command deals with, nsa deals with, and, frankly, the global community's going to deal with it, and not just governments, but on this show, you talk about the business relationships and businesses. it's a fact of life that businesses have to deal with forevermore with as well. neil: down the road, how do you intoned to it? it's one thing the world trade center attack, the pentagon attack, but say all your banks and the sites are attacked,
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brought down, how do respond to that? >> good question, neil. how do you respond, and who responds? the global nature of the internet, first of all, you like to think you can identify who is responsible, but how do you hold them accountable? what if we know a nation state. pick anybody, iran, disrun of-- disresults the stock exchange, whatever, does the private company respond or something that the federal government is going to respond to? that whole question of who responds and it brings in the other question of how much information is our government sharing with the private sector so they prepare the necessary defenses that they know they are going to need forevermore in the broader, global community. neil: secretary, governor, always a pleasure. >> thank you, neil. neil: meanwhile, this alert, britain could be getting cold feet here.
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prime minister cameron caves to critics, and the party who wants the syria intervention put to a vote on parliament. congress not keen on president obama going willie-nilly on this, and what does this telegraph, good or bad, to the assad administration? >> well, it's telegraphing to them that we are undecided and very weak. you know, obama has really been cornered by his own words. if you look at what's gone on in the past few days, iranians came out and said, if we are going to attack syria, they are going to attack israel, and at this point, obama is back into a very bad corner because he's going to risk israel being attacked and go ahead with what he's planning, or, number two, back off, in which case, the iranians say, hey, we backed him down. isn't he just another chicken heart? he has to do something. the problem is, neil, there's nothing good to do. we should not be doing anything to intervene in syria. neil: all right, now, i had john
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mccain here the other day, and, of course, as you know, he's a big believer that we should be doing more. we should have gotten involved earlier, and he says that there are good guys there we know. it's not al-qaeda elements mixed with the good guy, and we are missing a golden opportunity here. you say what? >> well, two things, with all do respect to mr. mccain, it is an al-qaeda opposition, the free syria army is compromised of different factions, most bad guys. we don't even know who is there. ot, if he wants to intervene, and obama is talking about captain beach, fire a shot across the bow, this will not do anything. we will not go for regime change. that would be the only possible outcome we would like to see. the problem with that is we can't do that. the russians and the iranians are deeply embedded in syria now, they control whoever succeeds assad. whatever way we win, we lose. neil: the russians have certainly done a lot of saber
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rattling, and iranians promised they would, you know, reign hell on israel if that happens. what is the fallout if, in fact, we follow up, eventually, sometime, with missiles or whatever we're concocting? >> well, i think, especially if we go for a wrist slap, apparently, all we'll try to do, we'll see attacks on is ray whether it's iran directly, i don't think they have guts enough to do that. benjamin netanyahu pulls the trigger on them if they try to attack israel. there's an outflow of heavy missile attacks from hezbollah to lebanon an syria, and god hopes, i hope, that they have enough war shots in the iron dome system to intercept them all. that remains to be seen. if israel suffers massive casualties, bar the door, lids off, who knows what happens. neil: the other issue brought up to the point, chad, the use of chemical weapons or what seems to be clear evidence of such. if that's the new litmus test,
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any other means of killing your people is fine? up until now, we had a hundred thousand syrians blown up, mutilated, but this was prior to chemical weapons stuff. there was instances where in, you know, da fur, rwanda, they were hatcheted and shotted if i'm a dictator, i'm going to look at this, well, i won't use chemical weapons, just shoot them, and i'll be safe. that's weird to me. >> well, it is weird, but it comes back to, again, another obama doctrine here, the requirement to protect. you know, he believes we have some moral obligation to intervene anywhere somebody's oppressed or depressed or deprived in order to get by in the day. the point here is we do not have the obligation to interfere in every conflict in every country. it's not for us to do. we're not the world's policeman. when he's building down the military to the point he is now, i really don't see how he could
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expect us to do this. we can do a lot in syria, don't get me wrong. the fact of the matter remains, we should not because we cannot control the outcome or predict what the outcome would be. neil: you are way too clear, so try not to come back on the show again. the former under secretary of defense, a pleasure, thank you. >> thank you, pal. neil: all right. when your girlfriend is hot, but maybe the business she's in is not, no big deal; right? now, now, what if that business is your company, and that hot girlfriend is the one running it? don't giggle. this is google. ♪
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neil: the cofounder is reportedly breaking up with his wife, and while he stands to lose billions to her, hard to %-divorce laws are, google stans
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to lose even more? we're now hearing that -- i never want to mispronounce the name, but he's dating the marketing manager for google glass. that's the company behind the goofy glasses that google is betting big time on, and he's worrying the conflict of interest or what appears to be could be something investors might have to start worrying about. woman's advocate says the relationship is a little troublesome. why? >> well, first off, it's cliche and tacky, but other than that, it should be a concern to investors, and it should be concern to the people involved. it's bad for young women because, well, let's face it, when he's tired of her, which he inevitably will be, of the 26-year-old, she's got that reputation. the only thing that has to happen is when she's googled, it's out there. young women in the workplace that are listening, don't do it. it will follow you.
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people will think that you slept your way to the top. you don't need anything -- neil: wait, wait, wait, you're not antipeople at work, you know, -- >> single people is one thing, married people dating is another thing, and dating a subordinate is a bad idea because when it's over, there could be a mess to clean up that has financial ramifications. by the way, divorce is a bad deal financially. it's bad for your viewers. when you leave your wife for a younger woman, you have to pay. the average divorce, if it's unlitigated, is $15,000 the litigated, $50,000, and if you're worth a lot of money, it's a lot more. neil: we don't care about that. he has the money, all that, but i will say -- >> oh, i bet he cares. neil: i know he does. >> they all care. neil: my point is the discussion whether his relationship with this woman had -- >> i think it is problematic. neil: i heard you, wonderful, i want you to stop. you are good. now, it's your view this is
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dangerous, and does present, as you pointed out a number of issues troublesome to google? >> don't dip your pen in the company ink, and it -- neil: interested to know this is a family show, but if you could move on from that. >> okay, no problem. you know, whether or not he's dating her, and, you know, he's the marking manager, and if she makes bad decisions and investors perceive she's not able to be firedded, that's a problem. perception here is everything. nothing new about this. this happenedded several times, even in the past year, multiple ceos resigned because of accusations of dating employees, you know, just recently, the ceo of restoration hardware during their public offering was asked to resign because he was accused of dating an employee, and turns out, number one, he was not having an affair, and number two, he was dating a former employee, someone not employeded. neil: that's right.
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>> others like the ceo of hp, the ceo of -- neil: you're right. there's a lot of history precedented, and to penny's point, a worry issue with that. penny, i wonder, what if they go the other way to show there is work, hands off relationship -- >> it's impossible. neil: impossible, you say? >> impossible. the other employees, the team is fractured when there inevitably will be a different relationship, certainly, much more emotional ties to this one employee over the other, how can you possibly think that your work is judged fairly when put up against someone's lover? i mean, i actually think that -- and, you know what? people break up. neil: business is business; right? quickly, isn't business business? glasses look promising, they don't to me, but i'm not a tech, but if it's promising, it doesn't matter whether, you know, she's the girlfriend or tiny tim. i mean, -- >> there's a lot of
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amplifications of liabilities. we don't know what kind of accusations can come from a relationship, especially at this high level, but at the end of the day, you know, you're right, business is business. maybe he's thought about it long and hard and really in love with amanda, and maybe their love will help blossom the new product and take google to new heights. >> kneel, spent five minutes googling why not to have an affair with someone you work with. there's good reasons not to have done it. neil: you seem angry. >> i'm not angry. neil: kidding. >> passionate. neil: indeed you are. thank you very much. hey, in the meantime, you know, instead of pumping wells, maybe you should try pumping gas because after that doosy of a trade that will cost you hundreds of millions in fines, you could have just filled up average folks' tanks, and everything, well, would have been find. ♪ ♪
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>> we're giving back in the form of gas, free gas, and we're pleased you stopped by today. neil: that's a ceo. the other guy, two diamond, and if you the the image, chase down your nearest gas station an spruce up yours, jamie. you could learn from the bank, a small wisconsin bank, wowing its customers in a big way doing actually a little thing. it's an important thing to them. it just gave the first 200 customers at the state road quick trip store twenty bucks worth of free gas. it's a nationwide push for smaller banks to encourage local
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banking, and its ceo is here. >> hi. neil: what reactions are you getting? >> well, just having a blast. we -- as you said, we gave away gas in lacrosse, wisconsin today, but, today, in st. paul, minnesota, and it's a community bank, and we have been banding together with some 150 other community banks across the country, and what we're doing is we have one purpose trying to -- taking market share away from the megabanks, and so what you saw in the last couple days was simply an expression of what community banks do, give back to the community. neil: no doubt, and i think you're the heart and soul of the mayberries in america, but when it comes to banks and where folks bank, it's a big deal to switch banks. you know what i mean? if they get the checks automatically e -- deposited, almost like high-tech prisoners and takes a lot for
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them to rip up that relationship and start anew. how do you overcome the change factor? neil: well, that's part of what we were doing with our gas give away was really an education to the consumer that they have a choice, and, actually, technology is improved a lot of things, and one of the things it's improved is how you open an account. for example, if you want to open an account with the bank, do it op line without setting foot in the bank. it's not as difficult as you imagine. not to mention the fact you get a wide variety of better quality of products in the community bank. neil: you gave the idea that you could do it because if you fill up my car with gas, you can switch thing the for me. i don't have to be bothered, but you're doing something with the service, giving gas, to make a bigger point about service and that is an area where your bigger bank brethren get knockedded hard, that they have been so focused on big customers, big trades, finding
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ways around the system to gun it, and whether the criticisms are fair or even right, doesn't matter, the perception is they are not too loved right now, perfect marketing opportunity for you, i'd think. >> well, a lot of megabanks were the recipients of a great deal of help from the federal government over the last several years, and they needed it, quite frankly, and what their reaction to that has been turns out to be higher fees and an incredible focus on what's good for the bottom line and not necessarily what's good for the customer themselves. neil: and you and your brethren were never, you know, given the structure, no one provided you emergency loans or rescues; right? >> the bank received no assistance. we are rock solid. we are financially strong. we've been lending money all the way through the recession much like all the rest of the community banks, other financial institutions that are part of this effort. neil: all right.
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it's a neat effort. i admire it. it's novel. thank you very, very much. >> thank you for the opportunity. neil: in the meantime, bomber bouncing, and if you have money in microsoft, you may be dancing like this. we're hearing today that microsoft may be the one monkeying around because ballmer is here to stay long after he's gone. i'll explain. it gets really complicated. ♪
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john. >> with the ongoing series ms there has been a boom for energy stocks. by far the best performing sectors were caught in the cross hairs and oil could really rocket once we start to see rockets in the ideal perfect panic storm the prison is $40 higher than
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where it is trading now can this leave our market oil? so my guess degree it is still time to buy or energy? >> it is working quite well and the oil stocks were leading even before the conflict started to escalate of course, now news pushes the oil to the new 52 week high. you have to be very careful buying stocks with oil companies look at the first goal for you saw the price double then drop by 50 percent. you don't buy it is simply for the conflict more for the growth in the and that conflict in the middle east. >> perhaps. right now is a great entry
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point because this is a great opportunity to buy into the energy sector. right now we can only assume the bombs will start maybe even over the weekend. so if you see any weakness tomorrow with their current trading environment that could be a great opportunity at least with short term it should be a quick trade. >> in the meantime the microsoft ceo is out but his invention is here tuesday that they will stick to his plan for the company including expanding out windows 8.1 even after he leaves. if they're looking for the fresh start button it looks like the company will keep pushing the same but if he does or does not. >> i see if they continued down the path table be
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disappointed as investors have spent. when he first took the helm this is the most powerful company technology company since his leadership it has been eclipsed by apple which goes to the point just how important this is but they will not continue down the line. but they will veer off the path successfully for the last couple of years. >> you like microsoft? >> anything with technology you have to be involved. if the stock has not been a great performer but talking about mobile advertising in leading the core competency sell granted the next guy or maybe that comes in needs to have the creative mind set if they do the stock will
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shoot to the moon is a great time to get it in. >> i'm sorry we don't have more time but tomorrow we will look at the theory to say we did have the money toank get involved. that argument. >> detroit is now the>> largest u.s. city to file for bankruptcy. it cannot manage itself we're at the end of the road we cannot borrow any morewe money. >> what happened b? it was once prosperous nown s it is iraq. >> for $1,500 you can buyhn this house for years politicians could say they could fix d street. that is its. john: instead. >> they turned city hall into a den of bribes and kickbacks making themselves rich. john: is there hope for places like detroit? >> it will turn around the city of detroit. >> the motor city. this is will we d